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Planning for Artists, Musicians, Authors, and More

Whether you are a musician, author, artist, chef, or inventor, it is important to protect your work and ensure that the fruits of your labors will continue to benefit future generations after you pass away. If you are one of these professionals, here are some things you might want to think about:
How will my work be valued for estate and gift tax purposes?
  • What do I need to do to ensure that my copyright is both valid and defendable?
  • Should a business entity or trust own the rights to my works, or should I own them personally?
  • How can I manage taxes and other financial planning with a volatile income?
  • Should I transfer ownership of my intellectual property while I am still alive, or via estate planning documents?
Keep in mind that copyrights may be transferred in whole or in part, which can create some unique issues. Intellectual property rights can also be transferred separately from royalty rights. Because of the special tax, legal, and other ramifications of IP, a standard estate plan is not likely to address all of your needs. At Inter Vivos, we incorporate these unique considerations into your overall plan. Give us a call today to discuss your situation.
Interested in Planning for Artists Authors and Musicians?

E-book: "Estate Planning For Founders, Pharoahs, & Pioneers"

Close to 70% of all businesses in the United States are closely held or family owned. Business owners are perhaps most in need of proper planning and often most oblivious to it. Our upcoming E-Book, "Estate Planning for Founders, Pharaohs, and Pioneers" walks a family business through planning needs from formation all the way to succession as well as how to protect themselves from liability, how to plan around taxes, and how to protect what makes their business special. In short every small business needs it.